Shares in Renold (RNO) fell 6 per cent after a trading update indicated low growth in underlying markets and "higher than anticipated" currency headwinds.
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The industrial chains and gearbox maker, however, claims that "good progress" continues to be made on its turnaround strategic plan to deliver margin improvements, with operating profit expected to remain in line with current market forecasts.
Broker finnCap expects adjusted pre-tax profits of £12.7m for the current year, giving adjusted EPS of 4.6p (up from £8.7m and 3.2p).
